Suppliers demand faster payments

It is not unusual for small companies to have to wait 90-120 days for payments, meaning that recruitment and investment must wait. Legislation passed three years ago has not had any effect, according to suppliers, and they are critical of Enterprise Minister, Michael Damberg. The law means payments within the public sector must be made within 30 days but for private companies it is an issue of negotiation.

Michael Damberg says he is aware that long payment times are damaging to jobs growth but wants to first evaluate the earlier legislation before proposing new changes.

New export strategy

Enterprise and innovation minister Mikael Damberg unveiled a new 22-point plan on Monday, seeking to encourage growth and increase Sweden’s exports.

Expressing concern over the country’s weak export growth, the minister said the government intended to allocate SKr 800 million to stimulate Sweden’s presence in global markets.

The plan includes the opening of new embassies and consulates in export markets, financing to facilitate the export of goods and services, as well as proposals to attract foreign investment and improve Sweden’s image overseas.

Damberg noted that Germany and the Netherlands have both enjoyed better export growth than Sweden. He also pointed out that Asia is expected to growth twice as fast as Europe, to where some 70% of Sweden’s exports go. “Sweden will miss out on more than half of the expected growth in value, unless it is able to redirect its exports,” he said.